Iris Energy Limited

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Bullish +75

IREN Stock Climbs 5% Overnight As Speculation Builds Over Anthropic ...

📈 IREN shares climbed nearly 5% overnight after reports surfaced that Anthropic is seeking 1.4 gigawatts of cloud capacity in Australia.

🤝 The tender process includes IREN, CDC Data Centers, AirTrunk, NextDC, and Stack as invited participants for the project.

⏳ Anthropic is expected to make a final decision on the contracts within six weeks, potentially splitting the deal into four or five smaller agreements.

💼 IREN has pivoted from crypto mining to AI cloud computing, highlighted by a 200-megawatt lease with Microsoft and a $9.7 billion Nvidia GB300 contract.

📊 Retail sentiment for IREN is bullish, with Stocktwits message volume increasing by 336% over the past week.

🗳️ In a recent poll, 23% of investors voted to bet on IREN as their preferred cloud stock, placing it second behind Nebius.

📈 The broader neocloud sector is gaining traction as hyperscalers and tech companies seek massive AI infrastructure capacity.

Bullish Signals
  • IREN shares rose nearly 5% in overnight trading following the revelation of Anthropic's tender for Australian cloud capacity, signaling strong market interest.
  • The company has secured a landmark agreement with Microsoft for a 200-megawatt lease at its Childress facility, demonstrating successful execution in the AI sector.
  • IREN holds a five-year contract worth an estimated $9.7 billion tied to Nvidia GB300 GPU capacity, providing significant revenue visibility.
  • Retail sentiment is strongly bullish, with major accounts previously bearish turning mega-bullish and setting high price targets based on the Anthropic opportunity.
  • Stocktwits message volume for IREN increased by 336% over the past week, indicating growing retail investor engagement and confidence.
  • In a community poll, IREN was selected as the preferred cloud stock by 23% of respondents, highlighting its strong standing among investors.
Full Analysis
IREN Ltd. shares rose nearly 5% in overnight trading following reports that Anthropic has privately tendered for at least 1.4 gigawatts of cloud capacity from Australian data centers. The request for proposals, reviewed by The Australian Financial Review, lists IREN alongside competitors like CDC Data Centers and AirTrunk as potential partners to build and operate a campus-scale facility. Analysts and retail traders speculate that IREN is in the final stages of contracting with Anthropic, potentially securing a significant deal within six weeks. While Anthropic may split the massive $15 billion capacity requirement into multiple contracts rather than signing with a single provider, IREN's recent strategic pivot from crypto mining to AI cloud computing positions it as a key contender. The company's transition is anchored by two major milestones: a landmark agreement with Microsoft for a 200-megawatt lease at its Childress facility and a five-year contract estimated at $9.7 billion tied to Nvidia GB300 GPU capacity. These developments have driven bullish sentiment among retail investors, with message volume on Stocktwits increasing significantly. IREN stock is currently up 3% year-to-date as the broader neocloud sector attracts attention due to surging demand for AI infrastructure. The market anticipates that Anthropic's decision process could conclude in early June, potentially reshaping the competitive landscape for Australian data center operators.